: Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost

by | May 24, 2023 | Stock Market

Nvidia Corp. headed toward market-capitalization gains of nearly $200 billion in after-hours trading Wednesday, which could put the chip maker within sight of becoming only the seventh U.S. company to top a valuation of $1 trillion. Nvidia shares
jumped 25% in the extended session Wednesday, after executives predicted that revenue would exceed the company’s record by more than 30% in the current quarter. The audacious forecast arrived as tech companies look to jump on advances in artificial intelligence that are largely powered by Nvidia’s computing gear.

Nvidia ended Wednesday’s session with a market cap — the total value of all shares in existence — of roughly $754.3 billion, according to FactSet. A 25% increase would add nearly $189 billion to that total, putting the company within striking distance of $1 trillion. Only six U.S. companies have ever attained a $1 trillion market cap: Apple Inc.
and Microsoft Corp.
are currently worth more than $2 trillion apiece; Google parent Alphabet Inc.
and Amazon.com Inc.
have valuation of more than $1 trillion; and Facebook parent Meta Platforms Inc.
and Tesla Inc.
have both touched the $1 trillion plateau previously. For more: From U.S. Ste …

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